There are several new tax deductions that have been introduced for the 2026 filing season. A deduction is an amount subtracted from the taxpayer’s income when filing. Deductions lower the taxable income resulting in lowering the federal income tax obligation. New deductions for 2026 filing season Seniors age 65 and older may be eligible to claim an additional $6,000 deduction Tipped workers may be eligible to deduct up to $25,000 […]